Updated Dental/Medical Office
5307 W Devon Ave Chicago, IL 60646
For Sale
Contact for pricing
Recently updated office building set up for medical or professional services, with a large reception and multiple exam or office rooms.
Property Size2,100 SF
Price / SF$199.52
Days on Market59
Property Features for 5307 W Devon Ave
General Information
- Standard status
- Active
- Size
- 2,100 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1958
Listing Agency:
Remax Legends
Listed By:
Edgar R Guerrero · License #IL 874979
Source:
Crexi
Added: May 27
Changed: Jul 10
Last Checked: Jul 23 at 8:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Remax Legends
Investment Insights
Based on property information with market context.
This recently updated 2,100-square-foot office building was used as a dental office and is well suited for medical, dental, or other professional uses. The interior features a large reception area, space for approximately five offices, and about 4.5 bathrooms. Improvements include LED lighting, a sound surround system, newly painted walls, and a kitchen. Additional space is available in a finished basement.
The property is located in downtown Edgebrook at 5307 W Devon Ave. It has lots of street parking for clients and visitors. The surrounding area includes local businesses, restaurants, the Edgebrook Library, and the Metra strip along Devon/Lehigh, with nearby access to Highway exits for I-90 and the 94 Expressways.
For tenants or owners looking for a move-in ready professional environment, the layout supports patient or client flow with a prominent reception area and multiple private offices. The kitchen and finished basement provide added flexibility for staff use, storage, or additional operating space, while the street parking helps accommodate walk-in and appointment-based traffic.
The property is located in downtown Edgebrook at 5307 W Devon Ave. It has lots of street parking for clients and visitors. The surrounding area includes local businesses, restaurants, the Edgebrook Library, and the Metra strip along Devon/Lehigh, with nearby access to Highway exits for I-90 and the 94 Expressways.
For tenants or owners looking for a move-in ready professional environment, the layout supports patient or client flow with a prominent reception area and multiple private offices. The kitchen and finished basement provide added flexibility for staff use, storage, or additional operating space, while the street parking helps accommodate walk-in and appointment-based traffic.
Key Highlights
- Approximately 2,100 SF office building in a downtown Edgebrook location (built 1958)
- Recently updated, previously used as a dental office with a layout suited to medical/dental or professional services
- Large reception area plus 5 offices and a finished basement
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.4k | $24.00 |
| − Vacancy | −$4.0k | −$1.92 |
| EGI | $46.4k | $22.08 |
| − OpEx | −$18.5k | −$8.83 |
| NOI | $27.8k | $13.25 |
2,100 SF · lease $24.00/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Office B
$643.7K
$563.2K – $751.0K
NOI $45,058 @ 7.0% cap · market cap 10.75%
Second Best
Healthcare Medical
$397.4K
$347.8K – $463.7K
NOI $27,821 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$990.1K
$866.4K – $1.16M
NOI $69,310 @ 7.0% cap · market cap 16.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
K-9 Dental Laboratory
Dental Office
The Kidographer
Photography Service
Similar Off Market Nearby
- Chicago Cat Clinic — 5301 W Devon Ave, Chicago, IL 60646
- Lincolnwood Animal Hospital — 6431 N Cicero Ave, Lincolnwood, IL 60712
FAQs
What type of property is this?
Medical Office Space - Recently updated office building set up for medical or professional services, with a large reception and multiple exam or office rooms.
Where is this medical office space located?
The property is located at 5307 W Devon Ave Chicago, IL.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Approximately 2,100 SF office building in a downtown Edgebrook location (built 1958); Recently updated, previously used as a dental office with a layout suited to medical/dental or professional services; Large reception area plus 5 offices and a finished basement
